100y Questions Who Captures Value From Solana's Financial Rails

100y argued on November 4 that blockchain adoption can grow without the underlying networks capturing most of the economic value, pointing to Kalshi's distribution through Solana as an example. His essay asks whether crypto needs more applications whose core business depends on blockchain, beyond using it for financial access. The distinction is about where value accumulates. In 100y's view, platforms that own the customer relationship can capture the benefits while treating blockchain as one component of their product. He presents this as a concern about the industry's direction, rather than a measurement of revenue shares.